American Century Companies Inc. Sells 32,693 Shares of Xerox Holdings Co. (NYSE:XRX)

American Century Companies Inc. cut its holdings in shares of Xerox Holdings Co. (NYSE:XRX) by 29.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,471 shares of the information technology services provider’s stock after selling 32,693 shares during the period. American Century Companies Inc. owned approximately 0.06% of Xerox worth $912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Xerox by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,981,297 shares of the information technology services provider’s stock worth $292,937,000 after purchasing an additional 190,034 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in Xerox by 3.5% during the first quarter. Bridgeway Capital Management LLC now owns 986,682 shares of the information technology services provider’s stock worth $17,662,000 after purchasing an additional 33,590 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in Xerox during the fourth quarter worth about $14,832,000. Sound Income Strategies LLC boosted its holdings in Xerox by 7.4% during the second quarter. Sound Income Strategies LLC now owns 807,889 shares of the information technology services provider’s stock worth $9,388,000 after purchasing an additional 55,454 shares during the last quarter. Finally, Norges Bank purchased a new position in Xerox during the fourth quarter worth about $9,435,000. 85.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on XRX shares. Loop Capital dropped their target price on shares of Xerox from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Xerox from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Citigroup started coverage on shares of Xerox in a research note on Friday, June 28th. They issued a “sell” rating and a $11.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.75.

Xerox Stock Performance

Xerox stock opened at $10.15 on Wednesday. The firm’s 50 day simple moving average is $10.47 and its 200 day simple moving average is $12.91. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $1.26 billion, a PE ratio of -6.46 and a beta of 1.57. Xerox Holdings Co. has a 1-year low of $9.51 and a 1-year high of $19.78.

Xerox (NYSE:XRX) last posted its earnings results on Thursday, July 25th. The information technology services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Xerox had a positive return on equity of 7.33% and a negative net margin of 1.60%. The business’s revenue was down 10.0% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. As a group, analysts expect that Xerox Holdings Co. will post 1.79 earnings per share for the current fiscal year.

Xerox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.85%. The ex-dividend date is Monday, September 30th. Xerox’s payout ratio is -63.69%.

Xerox Company Profile

Xerox Holdings Corporation, together with its subsidiaries, operates as a workplace technology company that integrates hardware, services, and software for enterprises in the Americas, Europe, the Middle East, Africa, India, and internationally. The company operates through two segments, Print and Other; and FITTLE.